ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2016 (UNAUDITED)

Transcription

1 ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2016 (UNAUDITED) POPULATION LAST CENSUS 28, '--- NET VALUATION TAXABLE ,248,752,600 MUNI CODE 0716 FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY: COUNTIES - JANUARY 26, 2017 MUNICIPALITIES - FEBRUARY 10, 2017 ANNUAL FINANCIAL STATEMENT REQUIRED TO BE FILED UNDER NEW JERSEY STATUTES ANNOTATED 40A:5-12, AS AMENDED, COMBINED WITH INFORMATION REQUIRED PRIOR TO CERTIFICATION OF BUDGETS BY THE DIRECTOR OF THE DIVISION OF LOCAL GOVERNMENT SERVICES. Township of Nutley,Couuty of Essex SEE BACK COVER FOR INDEX AND INSTRUCTIONS. DO NOT USE THESE SPACES Date Examined By: I 2 Preliminary Check Examined I hereby certify that the debt shown on Sheets 31 to 34a, 49 to 51a and 63 to 65a are complete, were computed by me and can be supported upon demand by a register or other detailed analysis. ;1 Signature ~ _ ~~ Title Regist~ant (This MUST be signed by Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.) REQUIRED CERTIFICATION BY CHIEF FINANCIAL OFFICER: I hereby certify that I am responsible for filing this verified Annual Financial Statement, (whisa I aa, e prepareel) or (which I have not prepared) [elimrnate oae] and information required also included herein and that this Statement is an exact copy of the original on file with the clerk of the governing body, that all calculations, extensions and additions are correct, that no transfers have been made to or from emergency appropriations and all statements contained herein are in proof; I further certify that this statement is correct insofar as I can determine from all the books and records kept and maintained in the Local Unit. Further, I do hereby certify that I Rosemary Costa, am the Chief Financial Officer, License # ~~---~~----'------~-~~, of the Township of Nutley, County of Essex and that the statements armexed hereto and made a part hereof are true statements of the fmancial condition of the Local Unit as at December 31, 2016, completely in compliance with N.J.S. 40A:5-12, as amended. I also give complete assurances as to the veracity of required information included herein, needed prior to certification by the Director of Local Government Services, including the verification of cash balances as of December 31, Signature Title Address Phone Number Fax Number Chief Financial Officer 1 Kennedy Drive Nutley, NJ (973) (973) IT IS HEREBY INCUMBENT UPON THE CHIEF FINANCIAL OFFICER, W11EN NOT PREPARED BY SAID, AT A MINIMUM MUST REVIEW THE CONTENTS OF THIS ANNGAL FINANCIAL STATEMENT WITH THE PREPARER, SO AS TO BE FA\1ILIAR WITH THE REPRESENTATIONS AND ASSERTIONS MADE HEREIN. Sheet 1

2 THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS: Preparation by Registered Municipal Accountant (Statement of Statutory Auditor Only) I have prepared the post-closing trial balances, related statements and analyses included in the accompanying Annual Financial Statement from the books of account and records made available to me by the Township of Nutley as of December 31, 2016 and have applied certain agreed-upon procedures thereon as promulgated by the Division of Local Government Services, solely to assist the Chief Financial Officer in connection with the filing of the Annual Financial Statement for the year then ended as required byn.j.s. 40A:5-12, as amended. Because the agreed-upon procedures do not constitute an examination of accounts made in accordance with generally accepted auditing standards, I do not express an opinion on any of the post-closing trial balances, related statements and analyses. In connection with the agreedupon procedures, (eirnept for cireffifistances as set fortli. below, no matters) or (no matters) [eliminate one] came to my attention that caused me to believe that the Annual Financial Statement for the year ended 2016 is not in substantial compliance with the requirements of the State ofnew Jersey, Department of Community Affairs, Division of Local Government Services. Had I performed additional procedures or had I made an examination of the financial statements in accordance with generally accepted auditing standards, other matters might have come to my attention that would have been reported to the governing body and the Division. This Annual Financial Statement relates only to the accounts and items prescribed by the Division and does not extend to the financial statements of the municipality/county, taken as a whole. Listing of agreed upon procedures not performed and/or matters coming to my attention of which the Director should be informed: NONE (Registered Municipal Accountant) Nisivoccia LLP (Firm Name) 200 Valley Road, Suite 300 Certified by me (Address) Mount Arlington, NJ this 9 _, {,lday of (,Jfi-, '--"-"' (Address) (Phone Number) RSarinelli@nisivoccia.com ( ) (Fax Number) Sheet la

3 MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION BY CHIEF FINANCIAL OFFICER One of the following Certifications must be signed by the Chief Financial Officer if your municipality is eligible for local examination. CERTIFICATION OF QUALIFYING MUNICIPALITY 1. The outstanding indebtedness of the previous fiscal year is not in excess of 3.5%; 2. All emergencies approved for the previous fiscal year did not exceed 3% of total appropriations; 3. The tax collection rate exceeded 90%; 4. Total deferred charges did not equal or exceed 4% of the total tax levy; 5. There were no "procedural deficiencies" noted by the registered municipal accountant on Sheet la of the Aunual Financial Statement; and 6. There was no operating deficit for the previous fiscal year. 7. The municipality did not conduct an accelerated tax sale for less than 3 consecutive years. 8. The municipality did not conduct a tax levy sale the previous fiscal year and does not plan to conduct one in the current year. 9. The current year budget does not contain an appropriation or levy "CAP Waiver". 10. The municipality will not appl) for Extraordinary Aid for The undersigned certifies that this municipality has complied in full in meeting ALL of the above criteria in determining its qualification for local examination of its Budget in accordance with N.J.A.C. 5: Municipality: Chief Financial Officer: Township of Nutley Rosemary Costa Signature: Certificate#: Date: CERTIFICATION OF NON-QUALIFYING MUNICIPALITY The undersigned certifies that this municipality does not meet item(s) #" of the criteria above and therefore does not qualify for local examination of its Budget in accordance with N.J.A.C. 5: Municipality: Chief Financial Officer: Signature: Certificate #: Date: Sheet lb

4 Fed I.D. # Township of Nutley Municipality Essex County Report of Federal and State Financial Assistance Expenditure of A wards Fiscal Year Ending: 12/31/2016 (1) Federal Programs Expended ( administered by the state) (2) State Programs Expended (3) Other Federal Programs Expended TOTAL $ 294, $ 375, $ 159, Type of Audit required by US Uniform Guidance and NJ 0MB 15-08: Single Audit --- Program Specific Audit --- x Financial Statement Audit Performed in Accordance With Government Auditing Standards (Yellow Book) Note: All local governments, who are recipients of federal and state awards (financial assistance), must report the total amount of federal and state funds expended during its fiscal year and the type of audit required to comply with US Uniform Guidance and NJ 0MB The single audit threshold has been increased to $750,000 beginning with the fiscal year starting 1/1/2015. (1) Report expenditures from federal pass-through programs received directly from state government. Federal pass-through funds can be identified by the Catalog of Federal Domestic Assistance (CFDA) number reported in the State's grant/contract agreements. (2) Report expenditures from state programs received directly from state government or indirectly from pass-through entities. Exclude state aid (i.e., CMPTRA, Energy Receipts tax, etc.) since there are no compliance requirements. (3) Report expenditures from federal programs received directly from the federal government or indirectly from entities other than state government. Signature of Chief Financial Officer Date Sheet le

5 IMPORTANT! READ INSTRUCTIONS INSTRUCTION - NIA The following certification is to be used ONLY in the event there is NO municipally operated utility. Ifthere is a utility operated by the municipality or if a "utility fund" existed on the books of account, do not sign this statement and do not remove any of the UTILITY sheets from the document. CERTIFICATION I hereby certify that there was no "utility fund" on the books of account and there was no utility owned and operated by the 10,J,, '5 k: p of -~\.:./,'.:.;;_/ ~:::-:;i::..,., r County of \:: 6 S e...,< during the year 2016 and that sheets 40 to 68 are unnecessary. I have therefore removed from this statement the sheets pertaining only to utilities Name NIA Title 1"'-< /i,;s~s,;"r- (This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.) NOTE: When removing the utility sheets, please be sure to refasten the "index" sheet (the last sheet in the statement) in order to provide a protective cover sheet to the back of the document. MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2016 Certification is hereby made that the Net Valuation Taxable of property liable to taxation for the tax year 2017 and filed with the County Board of Taxation on January 10, 2017 in accordance with the requirement ofn.j.s.a. 54:4-35, was in the amount of $ 1, fl_ 5'-i G 116 i,/0 () t,1 /1' 1-1 / vr,;:,z_..._..... STGNATIJRE OF TAX ASSESSOR Township of Nutley MUNICIPALITY Essex COUNTY Sheet2

6 NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET POST CLOSING TRIAL BALANCE - CURRENT FUND AS AT DECEMBER 31, 2016 Cash Liabilities Must Be Subtotaled and Subtotal Must be Marked with "C" - - Taxes Receivable Must Be Subtotaled Title of Account 11 Debit Cash and Cash Equivalents 27,248, ; Due State of New Jersey: Senior Citizens' and Veterans' Deductions 127, Receivables and Other Assets with Full Reserves: 27,375, Delinquent Taxes Receivable 1,514, Tax Title Liens Receivable 58, Subtotal Taxes and Liens Receivable 1,572, Property Acquired for Taxes at Assessed Valuation 47, Revenue Accounts Receivable 25, Due Water Utility Capital Fund 13, II Credit Total Receivables and Other Assets with Full Reserves 1,658, Appropriation Reserves: Encumbered 1,386, Unencumbered 2,380, Subtotal Appropriation Reserves 3,767, Accounts Payable 1,940, Prepaid Taxes 553,384.3 I Tax Overpayments 105, County Taxes Payable 53, Due State ofnew Jersey: Construction Code Surcharge Fees 5, Marriage License Fees 2, Due Other Trust Funds 4,243, / Due General Capital Fund 6,445, (Do not crowd - add additional sheets) Sheet 3

7 NOTE THAT A TRJAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET POST CLOSING TRIAL BALANCE - CURRENT FUND (CONT'D) AS AT DECEMBER 31, 2016 Cash Liabilities Must Be Subtotaled and Subtotal Must be Marked with "C" - - Taxes Receivable Must Be Subtotaled Title of Account 11 Debit 11 Credit Reserve for: Appropriated Grant Funds: Municipal Alliance Grant Clean Conununities 7, Pedestrian Safety Grant 7, Safety Achievement Award Staffing for Adequate Fire and Emergency Response ' 1, (SAFER) Grant 18, Private Donation - Partners for Health 6, Alcohol Education, Rehabilitation and Enforcement Fund Recycling Tonnage Grant 15, Unappropriated Grant Funds: Alcohol Education, Rehabilitation and Enforcement Fund FEMA - Snowstorms 212, Sale of Municipal Assets 66, Pending Tax Appeals 3,950, Redemption of Outside Liens 23, Master Plan Review 13, Subtotal Cash Liabilities 21,441, C Reserve for Receivables and Other Assets with Full Reserves 1,658, Fund Balance 5,933, Totals 29,034, ,034, (Do not crowd - add additional sheets) Sheet 3a

8 POST CLOSING TRIAL BALANCE - PUBLIC ASSISTANCE FUND ACCOUNTS #1 AND #2* AS AT DECEMBER 31, 2016 Title of Account 11 Debit 11 Credit Cash and Cash Equivalents 74, Reserve for Public Assistance Expenditures 74, Totals 74, , (Do not crowd - add additional sheets) *Tobe prepared in compliance with Department of Human Services Municipal Audit Guide, Public Welfare, General Assistance Program. Sheet 4

9 ..~~-~~~~~~--~---, POST CLOSING TRIAL BALANCE - FEDERAL AND STATE GRANTS AS AT DECEMBER 31, 2016 Title of Account II Debit 11 Credit (Do not crowd - add additional sheets) NIA Sheet 5

10 POST CLOSING TRIAL BALANCE - TRUST FUNDS (Assessment Section Must Be Separately Stated) AS AT DECEMBER 31, 2016 Title of Account 11 Debit 11 Credit Trust Assessment Fund: Assessment Receivable - PILOT Pledged 1,000, Assessment Bonds Payable Total Trust Assessment Fund 1,000, ,000, ,000, Trust - Dog License (Animal Control Fund): Cash and Cash Equivalents 29, Due State ofnew Jersey Reserve for Animal Control Expenditures Total Trust - Dog License (Animal Control Fund) 29, , , Trust - Other: Cash and Cash Equivalents 2,454, Due Current Fund 4,243, Deposits: Road Opening, Sewer Maintenance and Planning Board Escrow Developers Escrow Escrow Deposits Special Deposits 63, , , Reserve for: Dedicated Revenue: Sealer of Weights & Measures Uniform Fire Safety - Penalties Unemployment Insurance Living Tree Memorial Program Recreation Commission Fees Parking Offense Adjudication Act Recycling 27, , , , , , , COAR. 436, (Do not crowd - add additional sheets) Sheet 6 1 of2

11 POST CLOSING TRIAL BALANCE - TRUST FUNDS (Assessment Section Must Be Separately Stated) AS AT DECEMBER 31, 2016 Title of Account Trust - Other (Continued): Reserve for: Community Environmental Health Act Tax Sale Premiums Community Development Block Grants Accumulated Sick and Vacation Pay Storm Recovery Civic Celebration Law Enforcement Expenditures Mayor's Wellness Program Go Green Program Municipal Alliance Police Outside Duty Flexible Spending 11 Debit 11 Credit 1,013, , ,931, , , , , , , , , Total Trust - Other 6,697, ,697, (Do not crowd - add additional sheets) Sheet 6 2 of2

12 MUNICIPAL PUBLIC DEFENDER CERTIFICATION Public Law 1998, C. 256 Municipal Public Defender Expended Prior Year 2015: (1) $ 29, X 25% (2) $ 7, $ 36, Municipal Public Defender Trust Cash Balance December 31, 2016: (3) $ -0- Note: If the amount of money in a dedicated fund established pursuant to this section exceeds by more than 25% the amount which the municipality expended during the prior year providing the services of a municipal pnblic defender, the amount in excess of the amount expended shall be forwarded to the Criminal Disposition and Review Collection Fund administered by the Victims of Crime Compensation Board. (P.O. Box 084, Trenton, NJ 08625) Amount in excess of the amount expended: 3- (I + 2) ~ $ -0_-_ The undersigned certifies that the municipality has complied with the regulations governing Municipal Public Defender as required under Public Law 1998, C Chief Financial Officer: Rosemary Costa Signature: Certificate#: Date: Sheet 6a

13 Schedule of Trust Fund Deposits and Reserves Animal Control Fund: Purpose Amount Recei12ts Disbursements Balance Dec. 31, 2015 as at per Audit Dec Report I. Animal Control Expenditures $ 21, $ 20, $ 12, $ 29, Other Trust Funds: 2. Road Opening, Sewer Maintenance & Planning Board Escrow 61, , , , Developers Escrow 514, , , Escrow Deposits 31, , Special De:eosits Dedicated Revenue: 6. Sealer of Weights & Measures 27, , Uniform Fire Safety - Penalties 46, , , Unemployment Insurance 524, , , , Living Tree Memorial Program 9, , , , Recreation Commission Fees 317, , , , Parking Offense Adjudication Act 51, , , , Recycling 174, , , , COAH 356, , , , Community Environmental Health Act 865, , , ,013, Tax Sale Premiums 819, , , , Community Development Block Grants , , Accumulated Sick and Vacation Pay 1,902, , , ,931, Storm Recovery 359, , , , Civic Celebration 15, , , Law Enforcement Expenditures 158, , , , Mayor's Wellness Program 11, , Go Green Program 6, , , , Municipal Alliance Program 7, , Police Outside Duty 52, , , , Flexible Spending 4, , , , TOT AL OTBER TRUST FUNDS 5,774, ,303, ,379, ,697, Totals: $ 5,796, $ 3,323, $ 2,391, $ 6,727, Sheet 6b

14 ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENT PLEDGED TO LIABILITIES AND SURPLUS Audit RECEIPTS Title of Liability to which Cash Balance Balance and Investments are Pledged Dec. 31, 2015 Assessments Current Transfers Disbursements Dec. 31, 2016 and Liens Budget Interfund Assessment Serial Bond Issues:. Assessment Bond Anticipation Note Issues: :. Other Liabilities Trust Surplus *Less Assets "Unfinanced" : : : : Totals * Show as red figure

15 POST CLOSING TRIAL BALANCE - GENERAL CAPITAL FUND AS AT DECEMBER 31, 2016 Title of Account Debit Credit Est. Proceeds Bonds and Notes Authorized 370, I xx Bonds and Notes Authorized but Not Issued xx 370, Cash & Cash Equivalents 83, Due Current Fund 6,445, Grants Receivable: NJ Department of: Environmental Protection 150, Transportation 724, Federal Repetitive Flood Claims 1,069, Deferred Charges to Future Taxation: Funded 5,252, Unfunded 9,558, Serial Bonds Payable 4,836, NJ Department of Environmental Protection Green Acres Loan 416, Bond Anticipation Notes Payable 9,188, Improvement Authorizations: Funded 3,657, Unfunded 3,405, Capital Improvement Fund 774, Reserve for: Down Payments on Improvements 268, Payment of Debt Service 97, Economic Development Project 328, Fiber Optics 21, Paving 20, Local Improvements 35, Redesign of Nutley Streets 3, Fund Balance 229, Totals 23,654, ,654, (Do not crowd - add additional sheets) Sheet 8

16 CASH RECONCILIATION DECEMBER 31, 2016 Cash Less Checks Cash Book I On Hand On Deposit Outstanding Balance Current 456, ,590, , ,248, Trust - Assessment Trust - Dog License , , Trust - Other 46, ,483, , ,454, Capital - General 83, , Water - Operating 192, , , ,017, Water - Capital Water Utility Assessment Trust Public Assistance 74, , Garbage District Total 696, ,170, , ,907, * Include Deposits in Transit ** Be sure to include Public Assistance Account reconciliation and trial balance if the municipality maintains such a bank account REQUIRED CERTIFICATION I hereby certify that all amounts shown in the "Cash on Deposit" column on Sheet 9 9(a) and 9(b) have been verified with the applicable bank statements, certificates, agreements or passbooks at December 31, I also certify that all amounts, if any, shown for Investments in Savings and Loan Associations on any trial balance have been verified with the applicable passbooks at December 31, All 11 Certificates of Deposit", "Repurchase Agreements" and other investments must be reported as cash and included in this certification. (THIS MUST BE SIGNED BY THE REGISTERED MUNICIPAL ACCOUNTANT (STATUTORY AUDITOR) OR CHIEF FINANCIAL OFFICER) depending on who prepared this Annual Financial Statement as certified to on Sheet I or!(a). Signature: ~/~ Title: Registered Municipal Accountant Sheet 9

17 CASH RECONCILIATION DECEMBER 31, 2016 (cont'd.) LIST BANKS AND AMOUNT SUPPORTING "CASH ON DEPOSIT" Current Fund: TD Bank # TD Bank# TD Bank # TD Bank # TD Bank # Capital One Bank # , , , ,148, ,129, ,916, ,590, Trust - Doo License (Animal Control): TD Bank # , Trust - Other: Canital One Bank # Canital One Bank # Canital One Bank # Canital One Bank # Canital One Bank # Canital One Bank # Vallev National Bank # Vallev National Bank # TD # TD # TD # TD # Investors Bank # Investors Bank # TD # Valley National Bank # , , , , , , , , , , , , , , , , ,483, Canital - General: Capital One Bank # , Water - Oneratino-: Vallev National Bank # Vallev National Bank # Vallev National Bank CD# Vallev National Bank CD# Valley National Bank CD# l 89, , , , , , Note: Sections N.J.S. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that separate bank accounts be lffl~'91afor each allocated fund.

18 CASH RECONCILIATION DECEMBER 31, 2016 (cont'd.) LIST BANKS AND AMOUNT SUPPORTING "CASH ON DEPOSIT" Water - Capital: Valley National Bank # Public Assistance: Capital One Bank # Valley National Bank CD# Valley National Bank # , , , , TOT AL ALL BANKS 31,170, Note: Sections N.J.S. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that separate bank accounts be maintained for each allocated fund. Sheet 9b

19 Grant MUNICIPALITIES AND COUNTIES FEDERAL AND STATE GRANTS RECEIVABLE Balance 2016 Received Jan. I, 2016 Budget Revenue Realized Balance Dec. 31, 2016 Totals

20 Grant SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS Transferred from 2016 Balance Budget Appropriations Expended Jan. 1, 2016 Appropriation Budget By40A:4-87 Balance Dec. 31, 2016

21 Grant SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS (cont.) Transferred from 2016 Balance Budget Appropriations Expended Jan. 1, 2016 Appropriation Budget By 40A:4-87 Balance Dec. 31, 2016 Totals

22 Grant SCHEDULE OF UNAPPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS Transferred to 2016 Balance Budget Appropriations Received Jan. 1, 2016 Appropriation Budget By40A:4-87 Balance Dec. 31, 2016 ' ~ Totals

23 * LOCAL DISTRICT SCHOOL TAX I Debit II Credit Balance January 1, 2016 School Tax Payable# School Tax Deferred (Not in excess of50% of Levy ) Levy School Year July 1, June 30, 2017 Levy Calendar Year ,686, Paid 52,686, Balance December 31, 2016 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) * Not including Type I school debt service, emergency authorizations-schools, transfer to Board ofeducation for use oflocal Schools. 52,686, ,686, # Must include unpaid requisitions. MUNICIPAL OPEN SPACE TAX- NIA Debit I Balance January I, II Credit 2016 Levy Interest Earned Expended Balance December 31, Sheet 13

24 REGIONAL SCHOOL TAX (Provide a separate statement for each Regional District involved) Balance January I, 2016 Debit School Tax Payable # School Tax Deferred (Not in excess of50% oflevy ) Credit Levy School Year July 1, June 30, 2017 Levy Calendar Year 2016 Paid Balance December 31, 2016 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) # Must include unpaid requisitions. REGIONAL HIGH SCHOOL TAX Balance January I, 2016 School Tax Payable# School Tax Deferred (Not in excess of50% oflevy ) Debit I Credit Levy School Year July I, June 30, 2017 Levy Calendar Year 2016 Paid Balance December 31, 20 I 6 School Tax Payable# School Tax Deferred (Not in excess of 50% of Levy ) # Must include unpaid requisitions, NIA Sheet 14

25 COUNTY TAXES PAYABLE Debit Credit Balance January 1, 2016 County Taxes Due County for Added and Omitted Taxes , Levy General County ,351, County Library County Health County Open Space Preservation 545, Due County for Added and Omitted Taxes , Paid 17,942, Balance December 31, 2016 County Taxes Due County for Added and Omitted Taxes 53, ,996, ,996, SPECIAL DISTRICT TAXES- NIA Debit Credit Balance January 1, Levy: (List Each Type of District Tax Separately- see Footnote) Fire Sewer Water Garbage Open Space Total 2016 Levy Paid Balance December 31, Footnote: Please state the number of districts in each instance. Sheet 15

26 RESERVE FOR MAINTENANCE OF FREE PUBLIC LIBRARY WITH STATE AID I Debit Balance January 1, State Library Aid Received in II Credit Expended Balance December 31, RESERVE FOR EXPENSE OF PARTICIPATION IN FREE COUNTY LIBRARY WITH STATE AID Balance January l, State Library Aid Received in Expended Balance December 31, RESERVE FOR AID TO LIBRARY OR READING ROOM WITH STATE AID (N.J.S.A. 40:54-35) Balance January 1, State Library Aid Received in Expended Balance December 31, RESERVE FOR LIBRARY SERVICES WITH FEDERAL AID Balance January 1, 2016 State Library Aid Received in Expended Balance December 31, NIA Sheet 16

27 STATEMENT OF GENERAL BUDGET REVENUES 2016 Source I Budget Realized Excess or Deficit* Surplus Anticipated ,654, ,654, Surplus Anticipated with Prior Written Consent of Director of Local Government Miscellaneous Revenue Anticipated: Adopted Budget 10,80!, ,066, , Added by N.J.S. 40A:4-87: (List on 17a) See Listing on Sheet 17a 98, , , * II I Total Miscellaneous Revenue Anticipated ,900, ,136, , Receipts from Delinquent Taxes ,148, ,488, , Amount to be Raised by Taxation: (a) Local Tax for Municipal Purposes ,879, (b) Addition to Local District School Tax Total Amount to be Raised by Taxation ,879, ,115, ,235, ,582, ,394, ,811, ALLOCATION OF CURRENT TAX COLLECTIONS Current Taxes Realized in Cash (Total ofltem 10 or 14 on Sheet 22) ,527, Amount to be Raised by Taxation Local District School Tax ,686, Regional School Tax Regional High School Tax County Taxes ,896, Due County for Added and Omitted Taxes , Special District Taxes Municipal Open Space Tax Reserve for Uncollected Taxes ,224, I Debit Deficit in Required Collection of Current Taxes ( or) Balance for Support of Municipal Budget (or) ,115, *Excess Non-Budget Revenue (see footnote) *Deficit Non-Budget Revenue (see footnote) These items are applicable only when there is no "Amount to be Raised by Taxation" in the "Budget" column of the statement at the top of this sheet. In such instances, any excess or deficit in the above allocation would apply to "Non-Budget Revenue" only. II Credit 111,752, ,752, Sheet 17

28 STATEMENT OF GENERAL BUDGET REVENUES 2016 (Continued) Miscellaneous Revenues Anticipated: Added by N.J.S. 40A:4-87 Source Budget Realized Excess or Deficit* Clean Communities Program 59, , Body Armour Replacement Fund 6, ll3.90 6, Community Stewardship Incentive Program 25, , * Occupant Protection Program - Click It or Ticket 5, , , * Green Communities Program 2, , Total (Sheet 17) 98, , , I hereby certify that the above list of Chapter 159 insertions of revenue have been realized in cash or I have received written notification of the award of public or private revenue. These insertions meet the statutory requirements of N.J.S.A. 40A:4-87 and matching funds have been provided if applicable. CFO Signature: * Sheet 17a

29 STATEMENT OF GENERAL BUDGET APPROPRIATIONS Budget as Adopted Budget - Added by N.J.S. 40A: Appropriated for 2016 (Budget Statement Item 9) ,484, , ,582, Appropriated for 2016 by Emergency Appropriation (Budget Statement Item 9) Total General Appropriations (Budget Statement Item 9) ,582, Add: Overexpenditures (see footnote) Total Appropriations and Overexpenditures ,582, Deduct Expenditures: Paid or Charged [Budget Statement Item (L)] ,967, Paid or Charged - Reserve for Uncollected Taxes ,224, Reserved ,380, Total Expenditures Unexpended Balances Canceled (see footnote) ,572, , FOOTNOTES - RE: OVEREXPENDITURES: Every appropriation overexpended in the budget document must be marked with an* and must agree in the aggregate wlth this item, RE: UNEXPENDED BALANCES CANCELED: Are not to be shown as "Paid or Charged" in the budget document. In all instances "Total Appropriations" and "Overexpenditures" must equal the sum of ''Total Expenditures" and "Unexpended Balances Canceled". NIA SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL DISTRICT SCHOOL PURPOSES (EXCEPT FOR TYPE I SCHOOL DEBT SERVICE) 2016 Authorizations N.J.S. 40A:4-46 (After adoption of Budget) N.J.S. 40A:4-20 (Prior to adoption of Budget) Total Authorizations Deduct Expenditures: Paid or Charged Reserved Total Expenditures Sheet 18

30 RESULTS OF 2016 OPERATION CURRENTFUND Excess of Anticipated Revenues: Debit Miscellaneous Revenues Anticipated Delinquent Tax Collections Required Collection of Current Taxes Unexpended Balances of2016 Budget Appropriations Miscellaneous Revenue Not Anticipated Miscellaneous Revenue Not Anticipated: Proceeds of Sale of Foreclosed Property (Sheet 27) Payments in Lieu of Taxes on Real Property Sale of Municipal Assets Unexpended Balances of 2015 Appropriation Reserves Prior Years Interfunds Returned in Senior Citizens and Veterans Deductions Allowed Taxes Deferred School Tax Revenue: (See School Taxes, Sheets 13 & 14). Balance January 1, Balance December 31, Deficit in Anticipated Revenues: Miscellaneous Revenues Anticipated Delinquent Tax Collections Required Collection of Current Taxes Interfund Advances Originating in ,951.8] Senior Citizens and Veterans Deductions Disallowed - Prior Taxes 3, Refund of Prior Year Revenue -Taxes 6, Deficit Balance - To Trial Balance (Sheet 3) Surplus Balance - To Surplus (Sheet 21) ,635, ,652, Credit 236, , ,235, , , ,571, ,652, Sheet 19

31 SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED Source Amount Realized Prior Year Revenue: Pedestrian Grant 8, Donation from NVERS 9, County of Essex Municipal Alliance Grant 19, Montclair Interlocal Health Agreement 2, Refunds/Reimbursements 157, Payment in Lieu of Taxes 22, Insurance Claims 2, Senior Citizens' and Veterans' Deductions - Administrative Costs 4, Departmental Collections 14, Public Defender Fees 3, Homestead Rebate Reimbursement - Administrative Costs 1, State of New Jersey Motor Vehicle Inspections Bid Specifications Other Miscellaneous 12, Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19) 260, Sheet 20

32 SURPLUS-CURRENT FUND YEAR2016 I Debit I. Balance January I, Excess Resulting from 2016 Operations Amount Appropriated in the 2016 Budget - Cash ,654, Amount Appropriated in 20 I 6 Budget - with Prior Written Consent of Director of Local Government Services Balance December 31, ,933, ,587, II Credit 5,952, ,635, ,587, ANALYSIS OF BALANCE DECEMBER 31, 2016 (FROM CURRENT FUND - TRIAL BALANCE) Cash Investments ,248, Sub Total 27,248, Deduct Cash Liabilities Marked with "C" on Trial Balance Cash Surplus Deficit in Cash Surplus Other Assets Pledged to Surplus: * (1) Due from State ofn.j. Senior Citizens and Veterans Deduction Deferred Charges # Cash Deficit # Grants Receivable , ,441, ,806, Total Other Assets IN THE CASE OF A "DEFICIT IN CASH SURPLUS","OTHER ASSETS WOULD ALSO BE PLEDGED TO CASH LIABILITIES. # MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2017 BUDGET. (1) MAY BE ALLOWED UNDER CERTAIN CONDITIONS , ,933, NOTE: Deferred charges for authorizations under N.J.S. 4DA:4-55 (Tax Map, etc.), N.J.S. 40A:4-55 (Flood Damage, etc.), N.J.S. 40A: (Roads and Bridges, etc.) and N.J.S. 40A: (Public Exigencies, etc.) to extent of emergency notes issued and outstanding for such purposes, together with such emergency notes, may be omitted from this analysis. Sheet 21

33 (FOR MUNICIPALITIES ONLY) CURRENT TAXES LEVY I. Amount of Levy as per Duplicate (Analysis)# or $ 109,482, (Abstract ofratables) $ 2. Amount of Levy Special District Taxes $ 3. Amount Levied for Omitted Taxes under N.J.S.A. 54: et seq $ 4. Amount Levied for Added Taxes under N.J.S.A. 54: et seq $ 329, a. 5b. 5c. Subtotal 2016 Levy $ 109,812, Reductions due to tax appeals** $ Total 2016 Tax Levy $ 109,812, J' 6. Transferred to Tax Title Liens $ 24, Transferred to Foreclosed Property $ 8. Remitted, Abated or Canceled $ 160, Discount Allowed 82 I $ 10. Collected in Cash: In $ 311, In2016 * $ 107,594, State's Share of2016 Senior Citizens and Veterans Deductions Allowed $ 207,731.5] Total to Line $ 108,113, II. Total Credits $ 108,298, Amount Outstanding December 31, $ 1,514, Percentage of Cash Collections to Total 2016 Levy, (Item 10 divided by Item 5c) is 98.45% Note: If municipality conducted Accelerated Tax Sale or Tax Levy Sale check here D & complete sheet 22a. 14. Calculation if Current Taxes Realized in Cash: Total of Line 10 Less: Reserve for Tax Appeals Pending State Division of Tax Appeals To Current Taxes Realized in Cash (Sheet 17) $ :_1.::.:08:.2., l:..:l..::_3c;:, 8.::.:52:..:. 5:..:9_ $ :5:.:8c.:c6c;:, 0:::..56:..:..:..;l 7_ $..::_l 0:..:72.:,5:.::2-'-'7,c_79::..:6:.:_.4:..::2c_ Note A: In Showing the above percentage the following should be noted: Where Item 5 shows $1,500,000.00, and Item 10 shows $1,049,977.50, the percentage represented by the cash collections would be $1,049, I $1,500,000, or The correct percentage to be shown as Item 13 is 69.99% and not 70.00%, nor % # Note: On Items 1 if Duplicate (Analysis) Figure is used; be sure to include Senior Citizens and Veterans Deductions. * Include overpayments applied as part of 2016 collections. ** Tax Appeals pur5uant to R.S. 54:3-21 et seq and/or R.S. 54:48-1 et seq approved by resolution by the governing body prior to introduction of municipal budget. Sheet 22

34 ACCELERATED TAX SALE/ TAX LEVY SALE-CHAPTER 99 To Calculate Underlying Tax Collection Rate for 2016 Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to Chapter 99, P.L (1) Utilizing Accelerated Tax Sale Total of Line 10 Collected in Cash (sheet 22)... S LESS: Proceeds from Accelerated Tax Sale.... NET Cash Collected $ Line Sc (sheet 22) Total 2016 Tax Levy... $ Percentage of Collection Excluding Accelerated Tax Sale Proceeds (Net Cash Collected divided by Item Sc) is % (2) Utilizing Tax Levy Sale Total of Line 10 Collected in Cash (sheet 22)... $ LESS: Proceeds from Accelerated Tax Sale ( excluding premium)... NET Cash Collected $ Line Sc (sheet 22) Total 2016 Tax Levy... $ Percentage of Collection Excluding Accelerated Tax Sale Proceeds (Net Cash Collected divided by Item Sc) is % N/A Sheet 22a

35 SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS 1. Balance January 1, 2016 Due From State of New Jersey Due To State ofnew Jersey 2. Sr. Citizens Deductions Per Tax Billings 3. Veterans Deductions Per Tax Billings 4. Sr. Citizens Deductions Allowed By Tax Collector 5. Veterans Deductions Allowed By Tax Collector 6. Veterans Deductions Disallowed By Tax Collector 7. Sr. Citizens Deductions Disallowed By Tax Collector 8. Sr. Citizens & Veterans Deductions Disallowed By Tax Collector 2015 Taxes 9. Received in Cash from State 10. Sr. Citizens & Veterans Deductions Allowed By Tax Collector 2015 Taxes 11. State of New Jersey Taxation Audit 12. Balance December 31, 2016 Due From State of New Jersey Due To State ofnew Jersey Debit I Credit 128, , , , , , , , , , Calculation of Amount to be included on Sheet 22, Item Senior Citizen and Veterans Deductions Allowed Line 2 32, Line 3 175, Line 4 & 5 1, Sub-Total 209, Less: Line 6 & 7 1, To Item 10, Sheet , Sheet 23

36 SCHEDULE OF RESERVE FOR TAX APPEALS PENDING - (N.J.S.A. 54:3-27) Debit Credit Balance January I, ,500, Taxes Pending Appeals 3,500, Interest Earned on Taxes Pending Appeals Contested Amount of 2016 Taxes Collected which are Pending State Appeal (Item 14, Sheet 22) 586, Interest Earned on Taxes Pending State Appeals Cash Paid to Appellants (Including 5% Interest from Date of Payment) 136, Closed to results of Operations (Portion of Appeal won by Municipality, including Interest) Balance December 31, ,950, Taxes Pending Appeals* 3,950, Interest Earned on Taxes Pending Appeals * Includes State Tax Court and County Board of Taxation 4,086, ,086, Appeals Not Adjusted by December 31, Signature of Tax Collector License# Date Sheet 24

37 COMPUTATION OF APPROPRIATION: RESERVE FOR UNCOLLECTED TAXES AND AMOUNT TO BE RAISED BY TAXATION IN 2017 MUNICIPAL BUDGET YEAR 2017 YEAR2016 I. 2. Total General Appropriations for 2017 Municipal Budget Statement Item 8(L) (Exclusive of Reserve for Uncollected Taxes Local District School Tax - Actual Estimate** Regional School District Tax - Actual Estimate** Regional High School Tax - Actual School Budget Estimate** County Tax Special District Taxes Actual Estimate** Actual Estimate** JO. II. Municipal Open Space Tax Actual Estimate** Total General Appropriations & Other Taxes Less: Total Anticipated Revenues from 2017 in Municipal Budget (Item 5) Cash Required from 2017 Taxes to Support Local Municipal Budget and Other Taxes Amount ofltem IO Divided by % [ ] Equals Amount to be Raised by Taxation (Percentage used must not exceed the applicable percentage shown by Item 13, Sheet 22) Analysis of Item 11: Local District School Tax * May not be stated in an amount less than (Amount Shown on Line 2 Above) 'actual' Tax of Year 2016 Regional School District Tax (Amount Shown on Line 3 Above) ** Must be stated in the amount of the Regional High School Tax proposed budget submitted by the Local (Amount Shown on Line 4 Above) Board ofeducation to the Commissioner County Tax of Education on January 15, 2017 (Chap. (Amount Shown on Line 5 Above) 136, P.L. 1978). Consideration must be Special District Tax given to calendar year calculation. (Amount Shown on Line 6 Above) Municipal Open Space Tax (Amount Shown on Line 7 Above) Tax in Local Municipal Budget 12. Total Amount (see Line 11) Appropriation: Reserve for Uncollected Taxes (Budget Statement, Item 8 (M) (Item 11, Less Item 10) Com12utation of "Tax in Local Munici12al Budget 11 Item I - Total General Appropriations Note: The amount of anticipated rev- Item 12 - Appropriation: enues (Item 9) Reserve for Uncollected Taxes may never exceed the total ofltems 1 Sub-Total and 12. Less: Item 9 - Total Anticipated Revenues Amount to be Raised by Taxation in Municipal Budget Sheet 25

38 ACCELERATED TAX SALE - CHAPTER 99 Calculation To Utilize Proceeds in Current Budget As Deduction To Reserve For Uncollected Taxes Appropriation Note: This sheet should be completed only if you are conducting an accelerated tax sale for the first time in the current year. A. Reserve for Uncollected Taxes (sheet 25, Item 12) $ B. Reserve for Uncollected Taxes Exclusion: Outstanding Balance of Delinquent Taxes (sheet 26, Item 14A) x % of collection (Item 16) $ C. TIMES : % of increase of Amount to be Raised by Taxes over Prior Year % [(2017 Estimated Total Levy Total Levy)/ 2016 Total Levy] D. Reserve for Uncollected Taxes Exclusion Amount [(Bx C) + BJ $ E. Net Reserve for Uncollected Taxes Appropriation in Current Budget (A-D) $ Reserve for Uncollected Taxes Appropriation Calculation (Actual) 1. Subtotal General Appropriations (item S(L) budget sheet 29 $ 2. Taxes not included in the Budget (AFS 25, items 2 thru 7) $ T~ $ ======== 3. Less: Anticipated Revenues (item 5, budget sheet 11) $ Cash Required $ Total Required at % (items 4+6) $ Reserve for Uncollected Taxes (item E above) $ NIA Sheet 25a

39 SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS Debit Credit I. Balance January 1, Canceled: A. Taxes ,484, B. Tax Title Liens , A. Taxes B. Tax Title Liens Transferred to Foreclosed Tax Title Liens: A. Taxes B. Tax Title Liens Added Taxes Added Tax Title Liens Adjustment between Taxes (Other than Current year) and Tax Title Liens: A. Taxes -Transfers to Tax Title Liens (1) B. Tax Title Liens -Transfers from Taxes (1) Balance Before Cash Payments 8. Totals 9. Balance Brought Down 10. Collected: A. Taxes ,482, B. Tax Title Liens , II. Interest and Costs Tax Sale I 6 Taxes Transferred to Liens Taxes Balance December 31, Totals A. Taxes ,514, B. Tax Title Liens , ,527, , xxx~xxx 3, , ,522,666.4] 1,530, ,530, ,522, ,488, , ,514, ,572, ,061, ,061,195.5] 16. Percentage of Cash Collections to Adjusted Amount Outstanding (Item No. 10 divided by item No. 9) is! 97.74%! 17. Item No. 14 multiplied by percentage shown above is I maximum amount that may be anticipated in ,537, land represents the (See Note A on Sheet 22 - Current Taxes) ( 1) These amounts will always be the same. Sheet 26

40 SCHEDULE OF FORECLOSED PROPERTY (PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION) I Debit II Credit I. Balance January 1, , Forclosed or Deeded in Tax Title Liens , Taxes Receivable SA SB Adjustment to Assessed Valuation , Adjustment to Assessed Valuation Sales 9. Cash Contract Mortgage Loss on Sales Gain on Sales Balance December 31, , CONTRACT SALES - NIA 47, , Debit Credit 15. Balance January 1, Sales from Foreclosed Property Collected* ! Balance December 31, !9-00 MORTGAGE SALES - NIA I Debit II Credit 20. Balance January 1, Sales from Foreclosed Property Collected * Balance December 31, Analysis of Sale of Property: $ * Total Cash Collected in 2016 ( ) Realized in 2016 Budget To Results of Operation (Sheet 19) Sheet 27

41 DEFERRED CHARGES -MANDATORY CHARGES ONLY CURRENT, TRUST, AND GENERAL CAPITAL FUNDS (Do not include the emergency authorizations pursuant to N.J.S. 40A:4-55, N.J.S. 40A: orn.j.s. 40A: listed on Sheets 29 and 30.) Caused By Amount Dec. 31, 2015 Amount in Amount per Audit 2016 Resulting Report Budget from 2016 Balance as at Dec I Emergency Authorization - Municipal* $ $ $ Emergency Authorizations - Schools $ $ $ Emergency Response to: $ $ $ $ $ $ $ $ $ $ $ s $ $ s $ $ s $ s $ * Do not include items funded or refunded as listed below. $ $ $ $ $ $ $ $ s EMERGENCY AUTHORIZATIONS UNDER N.J.S. 40A:4-47 WHICH HA VE BEEN FUNDED OR REFUNDED UNDER N.J.S. 40A:2-3 or N.J.S. 40A:2-51 Date Purpose Amount I. $ 2. $ 3. $ 4. $ 5. $ JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED fu favor of On Account of Date Entered Amount Appropriated for in Budget of Year2017 I $ $ $ $ NIA Sheet 28

42 N.J.S. 40A:4-53 SPECIAL EMERGENCY - TAX MAP; REVALUATION; MASTER PLAN; REVISION AND CODIFICATION OF ORDINANCES; DRAINAGE MAPS FOR FLOOD CONTROL; PRELIMINARY ENGINEERING STUDIES, ETC. FOR SANITARY SEWER SYSTEM; MUNICIPAL CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE. Date I Purpose I Not Less Than REDUCED IN 2016 Amount Balance Balance 1/5 of Amount Authorized Dec. 31, 2015 By2016 Canceled Dec. 31, 2016 Authorized* Budget by Resolution [fj =-... " N sa ~ /I Totals It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S. 40A:4-53 et seq. and are recorded on this page. Chief Financial Officer * Not less than one-fifth (1/5) of amount authorized but not more than the amount shown in the column "Balance Dec. 31, 2016" must be entered here and then raised in the 2017 budget.

43 N.J.S. 40A:4-55.l, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS OR BRIDGES BY SNOW, ICE, FROST OR FLOOD N.J.S. 40A: , ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES Not Less Than Amount Date Purpose 1/3 of Amount Authorized Authorized* I I Balance REDUCED IN 2016 Dec. 31, 2015 By 2016 Canceled Budget by Resolution Balance Dec. 31, 2016,. r.r, =-... (;; 0 ~ II Totals It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S. 40A:4-55.l et seq. and N.J.S. 40A: el seq. and are recorded on this page. Chief Financial Officer * Not less than one-third (1/3) of amount authorized but not more than the amount shown in the column "Balance Dec. 31, 2016" must be entered here and then raised in the 2017 budget.

44 SCHEDULE OF BONDS ISSUED AND OUTSTANDING AND 2017 DEBT SERVICE FOR BONDS (COUNTY) (MUNICIPAL) GENERAL CAPITAL BONDS Source I Debit II Credit Outstanding, January 1, ,356, Issued xxxxx:xx Paid ,520, I 2017 Debt Service Outstanding, December 31, ,836, ,356, ,356, Bond Maturities - General Capital Bonds $ 1,516, Interest on Bonds * , Assessment Serial Bonds Outstanding, January I, Issued ,000, Paid xxxxx:xx Outstanding, December 31, ,000, ,000, ,000, Bond Maturities - Assessment Bonds s 2017 Interest on Bonds * , Total "Interest on Bonds - Debt Service" (* Items) $ 175, LIST OF BONDS ISSUED DURING 2016 Purpose II Date of 2017 Maturity Amount Issued Issue Redevelopment Area Bonds 1,000, /29/2016 I I Interest Rate 4.0% Total 1,000, Sheet 31

45 SCHEDULE OF LOANS ISSUED AND OUTSTANDING AND 2017 DEBT SERVICE FOR LOANS (COUNTY) (MUNICIPAL) NJ ENVIRONMENTAL INFRASTRUCTURE TRUST LOAN Debit Credit 2017Debt Service Outstanding, January 1, , Issued Paid , Outstanding, December 31, , , Loan Maturities lnterest on Loans Total 2017 Debt Service for NJ Environmental Infrastructure Trust Loan $ $ $ NJ DEPT. OF ENVIRONMENTAL PROTECTION GREEN ACRES LOAN Outstanding, January 1, , Issued Paid Grant and Loan Funding Ratio Change 84, Outstanding, December 31, , , , Loan Maturities Interest on Loans Total 2017 Debt Service for NJ Dept. of Environmental Protection Green Acres Loan $ $ $ 17, , , LIST OF LOANS ISSUED DURING NIA Purpose II 2017 Maturity II Amount Issued Date of Issue Interest Rate Total Sheet 31a